Reserve Bank announces festive season trading and settlement closures

The central bank said the measures are in line with standard festive season arrangements and are intended to maintain orderly market functioning while accommodating the public holiday calendar.

The South African Reserve Bank (SARB) has advised market participants of changes to its trading and settlement operations over the upcoming festive season, confirming that it will be closed on several public holidays in December 2025 and January 2026.

In a notice to the financial markets, the central bank said it will not conduct trading or settlement on the following official public holidays:

• Tuesday, 16 December 2025

• Thursday, 25 December 2025

• Friday, 26 December 2025

• Thursday, 1 January 2026

The SARB said all open market and foreign exchange transactions have been carefully scheduled to mature and settle on official business days during December 2025 and January 2026 to avoid disruptions during the holiday period.

“No settlement will take place via the South African Multiple Option Settlement (SAMOS) system on the dates specified above,” the central bank said, urging banks and other market participants to plan their liquidity and settlement activities accordingly.

The Reserve Bank also announced adjusted operating hours for its foreign exchange desk on the days preceding Christmas and New Year’s Day. The foreign exchange desk will close at 12:00 midday on both Tuesday, 24 December 2025, and Wednesday, 31 December 2025.

Despite the early closure of the foreign exchange desk on these days, the SARB confirmed that domestic money market operations will continue as normal. The position for domestic money market operations will close at 16:55 on both 24 and 31 December, ensuring continuity in routine liquidity management for the banking sector.

The central bank said the measures are in line with standard festive season arrangements and are intended to maintain orderly market functioning while accommodating the public holiday calendar.

Market participants with queries or requiring further clarification have been advised to contact Provia Mangoedi on +27 12 313 4952 or Andries Tshishonga on +27 12 313 4950.

The SARB encouraged all affected institutions to take note of the holiday schedule and adjusted hours to ensure smooth settlement processes and avoid operational challenges during the festive period.